Solar Panel Cost Guide in Georgetown, IL (2025 Update)
- Georgetown Solar Installation Cost: $16,686
- 25-Year Savings: $12,172
- Payback Period: 17.2 Years
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Average Cost of Solar Panels in Georgetown
We break down average solar pricing in Georgetown.
Currently, the national average cost of solar panels is $2.66 per watt. However, in Georgetown, the typical cost of solar panels is 4 per watt.To cover the typical energy needs of the average home in Georgetown, most homeowners require a 6.3-kilowatt system. Using the per-watt figure above, a solar installation costs around $16,686, or $23,861 before the federal solar tax credit of 0 is applied.
Keep in mind that the figures above are only estimates based on the average Georgetown homeowner. The price of a solar system for your home may be different depending on factors unique to your situation, like your household energy use and solar contractor.For most homeowners, the upfront cost of solar power is worth paying. On average Georgetown homeowners see about $15,000 in savings on electricity bills over 20 years.
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Solar savings over time in Georgetown
| Year | Return on Investment |
|---|---|
| 1 years | $-15,835 |
| 3 years | $-14,134 |
| 5 years | $-12,432 |
| 7 years | $-10,731 |
| 9 years | $-9,030 |
| 11 years | $-7,329 |
| 13 years | $-5,627 |
| 15 years | $-3,926 |
| 17 years | $-2,225 |
| 19 years | $-523 |
| 21 years | $1,178 |
| 23 years | $2,879 |
| 25 years | $4,581 |
Top Solar Installers in Georgetown
Although you can install solar panels on your own, it requires extra energy and handiness. That's why the majority of homeowners choose to hire a solar panel installer. Plus, if you’re unsure what brand of solar panels and equipment you need, a solar expert can help you figure that out after a site survey and consultation.
Working with a professional solar installer can help you make the most of your investment in solar. Here are our recommendations:
See all of the solar companies in Georgetown
Factors that Affect Solar Panel Costs in Georgetown
While the average cost of a solar system in Georgetown is $16,686, your actual cost may be above or below the average. There are many factors that can have a major impact on the cost of a solar panel installation. Below are some of the more crucial things to consider.
Solar Equipment
One of the most significant factors to consider when it comes to the cost of adopting solar energy is the size of the solar system, which is measured in kilowatts (kW). The more power your household uses, the larger your system will likely need to be. You can expect to pay about $3,760 per kilowatt in Georgetown.The brand and type of equipment you get for your solar system can raise or lower the price quite significantly. If you prefer a brand name like Tesla or SunPower, these are often more expensive than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you can expect a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also increase the cost.
Solar Financing Terms
Solar panels can save you money on power bills over many years, but they can also be a significant investment. That’s why many Georgetown homeowners opt to finance their solar panel systems to make paying for solar more affordable.Though solar loans make adopting solar energy more accessible for Georgetown homeowners, they can also increase the total you pay for your system due to interest. If you put down a larger down payment, though, you can cut back on how much interest you have to pay.
Solar Panel Installation Company
The solar company you select will affect your total cost to adopt solar power. Different companies will charge different amounts for the equipment and labor.The company’s size can sometimes play the most significant role in the cost of installation. Larger national companies, like SunPro and Sunrun, often have lower prices because of access to more resources and bulk pricing. Smaller local companies might be more costly, but they generally have better customer service and more customization options, and the occasional sale or discount can bring their pricing lower to compete with bigger companies.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.91 | $16,424 | $6,562 | 17.9 years |
| 8 kW | $3.84 | $21,477 | $9,171 | 17.5 years |
| 10 kW | $3.76 | $26,320 | $11,990 | 17.2 years |
| 12 kW | $3.68 | $30,952 | $15,020 | 16.8 years |
| 14 kW | $3.61 | $35,374 | $18,260 | 16.5 years |
| 16 kW | $3.53 | $39,585 | $21,711 | 16.1 years |
| 18 kW | $3.46 | $43,586 | $25,372 | 15.8 years |
| 20 kW | $3.38 | $47,376 | $29,244 | 15.5 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Since choosing a company can be difficult, we have some tips to help you, such as:
- Installation Process: One of the most important things to understand when going solar is the installation process itself. Be sure to align on any details you should know with your solar installer, such as what permits you should secure and how long the project will take.
- Warranty: If you care about the endurance of your solar panel system, ensuring your installer offers a 25-year, all-inclusive warranty can give you some peace of mind.
- Reputation: Long-running companies likely have a good reputation. This is important because it ensures that it will not only see your solar project through, but will also provide quality aftercare and customer support, such as part repairs and replacements.
- Solar Panel Brands: Each solar panel brand and model has varying levels of quality, durability and energy efficiency. They will come at different costs as well. The company you choose affects which solar panel brands you have access to.
EcoWatch's Georgetown, IL Solar Cost FAQs
How much does it cost to install solar panels in Georgetown?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,800 for a 5-kW system and $37,600 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you choose a smaller solar panel system or less expensive solar panels.
Should I lease or buy solar panels in Georgetown?
Leasing solar panels can be an appealing choice, because it often comes with low or $0 upfront payments. The downside is that you won’t be able to save as much. If you lease, you don’t own the system, so you can’t claim any incentives and your home value won’t increase. Buying solar panels is a better option if you want to maximize your savings.
Is it worth going solar in Georgetown?
Solar panels can be a fruitful investment for lots of homeowners, but they might not be worth it for everyone. If your home doesn't get enough sunlight and/or your energy bills are already reasonably low, solar panels might not be for you.
How often do you have to replace solar panels?
On average, the lifespan of solar panels is about 25 to 30 years. Some even last up to 50 years, but their efficiency goes down by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger level of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.